Wheat Market Regaining Losses

After closing 5 to 11 cents lower on Thursday, wheat is trading 5 to 6 cents higher so far on Friday. SRW wheat futures are 6 1/2 cents higher in May, with May KC wheat back up by 6 3/4 cents. May Spring wheat futures are 5 1/4 cents higher. Weekly wheat export bookings were 72,900 MT (2.679 mbu). HRW wheat sales were 74% of the total, and white wheat was 52% of the week’s sales. There was a net of 24,934 MT of HRS wheat bookings canceled on the week. All wheat commitments for old crop were 1.89% higher yr/yr with 24.783 MMT. CENSUS data from February showed that US wheat exports were 80.25 mbu, which was 17% above Jan but down 3% from February 2019.

May 20 CBOT Wheat is at $5.48 1/4, up 6 1/2 cents,

May 20 KCBT Wheat is at $4.70 3/4, up 6 3/4 cents,

May 20 MGEX Wheat is at $5.24 1/4, up 5 1/4 cents,

--- provided by Brugler Marketing & Management

Market Commentary provided by:

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